date:Sep 20, 2018
India is likely to consider on Wednesday a proposal to get mills to export 5 million tonnes of sugar by incentivising overseas sales in the 2018/19 season, two government officials said.
The worlds second biggest sugar producer is trying to reduce a growing stockpile and the rise in shipments could put pressure on global prices that are trading at near their lowest level in a decade.
But it could also help Indian Prime Minister Narendra Modis government during an election year by ensuring farm